Implementation of Decree No. 142/2003/ND-CP dated 20/11/2003 by the Government on the issuance of government bonds, Government-guaranteed bonds and bonds of local government, the Ministry of finance instructed the issuance of government bonds through the State Treasury system as follows: i. GENERAL PROVISIONS 1. Government bonds issued through the system of State Treasury bonds is the term from 1 year and over, including: Treasury bonds, bonds of the central buildings and foreign currency bonds (collectively referred to as the bonds).

2. The system of State Treasury direct make the sale of the bonds to institutions and individuals who buy bonds; the original organization of the payment, interest rate and bonds made, preserving the bond when the bond owner needs.

3. Based on annual financing plan, capital needs of the State budget and the progress of the project, the work, the Minister of finance decides on the specific content of each batch of bonds through the State Treasury System.

4. Bonds issued through the State Treasury to be assignable (buy, sell, give, donate, leave inheritance) or pledge in the credit relationship.

Bronze Vietnam bonds sold in the form of higher or lower than the face value of each batch have the same release date and the payment due date be listed and traded in the securities trading center (stock exchange).

II. SPECIFIC PROVISIONS 1. The money released, payment bonds issued through the State Treasury system was released and charged in Vietnam and foreign currencies freely convertible.

Bonds issued in the currency would then be the original payment, interest in the currency.

The Finance Minister decided to release foreign currency and local currency bonds for each release.

2. Form, denominations of the bonds 2.1. Bonds issued through the system of State Treasury in the form of a certificate or record book, has credited or uncredited.

2.1. Bonds issued in minimum denominations of Vietnam is 100,000 (one hundred thousand). Other denominations are multiples of 100,000 dong.

The face value of the foreign currency bonds by the Ministry of finance decides for each release.

2.3. The certificate bonds by the Ministry of Finance regulates the content and delivered to the State Treasury in organizations for distribution to organizations and individuals to buy bonds.

3. the interest rate on the bonds and the interest method 3.1. Interest rate of the bonds by the Minister of finance decides for each release, in accordance with the general interest in the market and ensure benefits for organizations and individuals to purchase bonds.

3.2. issued bonds have a fixed interest rate, the interest rate paid by the method: a periodic interest payment);

b interest-payment) once with the original money when due;

c interest rate payments) immediately upon release.

4. The object of buying bonds subject to buy bonds issued through the State Treasury system including: 4.1. Citizens in Vietnam and abroad;

4.2. Vietnamese who settled abroad;

4.3. Foreigners working in Vietnam;

4.4. The business units;

4.5. Political Organization; social-political; the social-political-career; the society; -professional society;

4.6. Enterprises, economic organizations in all economic sectors;

4.7. foreign organizations operating in Vietnam.

The organization is subject to the beneficiary State budget may not be used to State budget money to buy bonds.

Minister of finance specifies the object bought the bonds for each release.

5. bond sale forms 5.1. Sale form par face value applied in the case of bonds issued in the year or each phase lasts, not to determine beforehand the time stop publishing.

In this way, the amount of people who buy bonds to pay for the State Treasury by the denomination bonds. The release date is calculated on bonds the State Treasury in the pay of the people who buy bonds or receive a paper report of the Bank (in case of purchase of bonds by wire transfer).

5.2. Form of higher or lower than the sales price applies in the case of bonds issued by major release each time, not more than 2 months, have identified prior to the time of release and the end time.

The bonds issued in a batch with the same release date and the payment due date.

The method of determining the selling price of bonds: a) Selling bonds in denominations higher than that applied in the case of actual bonds on sale arising after the date of issuing the bonds. The formula to calculate the bond sale as follows: MG x Ls x n G = MG + 365 where: G: price bond MG: face value bonds: bond interest Ls (%/year) n: number of days from the issue date to the date the actual sale.

            b) Selling bonds lower denominations apply in case of actual bonds on sale arising before the date of issue. The formula to calculate the bond sale as follows: MG x Ls x n G = MG-365 where: G: price bond MG: face value bonds: bond interest Ls (%/year) n: number of days from the sale date to the actual release date.

Cases on sale the bonds coincides with the release date, the amount of people who buy bonds to pay for the State Treasury by the denomination of the bond.

The Ministry of finance specifies the method of determining the selling price for each bond issue.

6. Payment of bond buying organizations and individuals buy the bonds can pay money to buy the bonds by cash or bank transfer.

7. The payment of the bonds when due to the 7.1. Payment of principal, interest on bonds to limit a) for Bronze Vietnam bonds bonds bearer depository at the center of the securities (stock exchange): The payment of principal, interest on the bonds is made in bonds depository institutions. Before the date of the original payment due, interest rate 1 day base, proposed by the State Treasury, the Finance Ministry to transfer money to the securities trading center (stock exchange) to switch to the paid hosting organization directly for bond owners.

The bearer bond not centralized depository, at the center of the securities (stock exchange): bond owners are free to choose the place of payment of principal, interest in the units of the State Treasury. The State Treasury capital response to payment to bond holders. The monthly periodical, the aggregate number of State Treasury payment to the Finance Ministry proposed refund of deposited.

The bonds are named: The payment of principal, interest on the bonds is made at the Publisher. Existing effects Treasury funds to pay for bond owners. The monthly periodical, the aggregate number of State Treasury payment to the Finance Ministry proposed refund of deposited.

b) for foreign currency bonds: The payment of principal, interest on the bonds are due to be made at the State Treasury where released.


The case of the original payment amount, interest on the bonds are foreign currency travellers (under a single currency) shall be the exchange rate Vietnam sold by local commercial bank announced at the time closest to the customer.

The source of foreign currency for payment in the units of the State Treasury by the central State Treasury moved on. The case, the Ministry of finance to buy foreign currencies of the State Bank to payment of principal, interest due bonds will follow average transaction rate on the inter-bank foreign currency market at the time of purchase.

c) where interest payment due or that the original owners of the bonds has yet to pay the interest or the root which was reserved and repaid when the owners of the bond payment, demand interest not to enter the root and no interest in overdue payment time.

d) When payment of bonds, bond holders can receive cash or suggest moving the entire original amount, the interest rate the bond payment due on your account. Will calculate the fee deducted from the amount of the bond owners receive.

e) where bond holders because of the unforeseen reason unable to bond payment when due, may authorize another person to change. Person to the payment of the bonds must carry identification papers and papers authorized by the owner of the bond certified by the Agency, the people's committees or units (communes, wards and towns) where bond holders registered permanent residence.

7.2. payment bond before maturity and redeem the bonds before maturity The bond payment before maturity and interest rate are entitled to during the payment due is not made according to the regulations of the Ministry of finance for each release.

Customize the actual conditions, the Minister of finance can decide on the acquisition of the bonds before maturity. The method and the price to buy back the bonds is determined for each batch and the notifications for bond owners know.

8. Handle the cases lost, damaged 8.1 bonds. The case the bearer bond papers lost or repair, erasing, torn, damaged no longer hold shape, original content shall not be paid.

8.2. in case the bond sheet names lost or torn, damaged, bond owners must report in writing to the State Treasury where released. The heads of State Treasury units are responsible to check, if the bonds that have not yet taken advantage of the withdrawals will settle payments when due. If the sheet that bonds had taken advantage of the heads of units of the State Treasury is responsible for timely inspection, determine the cause and take measures to treat as prescribed by law.

9. Management of revenue bonds and the original payment source, bond interest rate 9.1. The entire proceeds of bonds are focusing on the central budget and accounting as prescribed by the Ministry of finance to use the demand under the State budget and the estimates for the projects, the project according to the specified target of the Prime Minister.

As for the revenues from bonds issued in foreign currency, after deducting the expenses directly in foreign currency, the Finance Ministry sold for the State Bank to increase foreign exchange reserves to the State's average transaction rate on the inter-bank foreign currency market at the time of sale.

9.2. capital to payment of principal, interest on bonds secured by the central budget and balancing the State budget in the estimation or layout from the source release Government bonds the next batch.

10. the transfer of the bonds the bonds issued through the State Treasury system to be used to transfer (buy, sell, give, donate, leave inheritance).

10.1. bearer bonds: a centralized depository bonds) in the center of the securities (stock exchange) are freely transferable according to the rules of the Securities and stock market.

b) no depository bond focus is freely transferable, not at the State Treasury where release bond.

10.2. The bonds have recorded the name: When transfer of bonds, must check in at the State Treasury.

The Director General of State Treasury sequence specific instructions and procedures relating to the transfer of the bonds to have enrolled in the units of the State Treasury.

11. Confirm the bond upon pledge 11.1. For bearer bonds: the State Treasury does not make confirmation of bond owners.

11.2. for the bonds have recorded the name: when the credit institution has requested (in writing) confirm the legality, of the bonds are mortgage papers, heads the State Treasury to sign the name of the owner and the amount bought bonds after the check, make sure the correct match with the content of the records.

12. Costs related to the bonds 12.1. The cost of issuing, payment of all expenses of bonds issued and the payment of bonds secured by the central budget, include: a) the cost of printing the certificate bonds under contract with the Agency.

b) costs and payment of bonds of the State Treasury system by 0.5% on the value of the bonds by the State Treasury directly sold to the buying audience.

Private release and payment bonds for social insurance, the State Treasury enjoyed cost 0.2% on the value of the bonds issued.

The case issued in foreign currency, the cost of issuing, payment adjusted the accounting rates by Vietnam Ministry of finance regulations.

c) costs paid for with bond concentrated in central depository stock (stock exchange) by 0.1% on the original amount, interest rates actually paid.

12.2. The cost of preservation, keeping premium bonds, keeping households in State Treasury bonds is done according to the current rules of the Ministry of Finance on the management for the property type and rare and valuable certification by the State Treasury received sent and preserved (today's circular No. 80/1999/TT-BTC on 28/6/1999 of the Ministry of Finance).

Customize the actual situation, the Finance Ministry could decide to free preserved, kept bonds in the State Treasury for each type of bonds and each object to buy bonds.

12.3. the fee paid to the original fee bonds, bond interest rates into account as required by the bond owner's owner charged with fees paid through the Bank.

III. IMPLEMENTATION 1. This circular has the effect after 15 days from the date The report.

2. Ministers, heads of ministerial agencies, government agencies, the Chairman of the people's committees of provinces and cities under central are responsible for coordination with the Ministry of finance the implementation of this circular.

The Director General of the State Treasury, the heads of the relevant unit directly under the Ministry of finance is responsible for guiding and organizing the implementation of the provisions of this circular.